Heartland Bank & Trust Co Sells 3,011 Shares of NetApp, Inc. (NASDAQ:NTAP)

Heartland Bank & Trust Co trimmed its holdings in NetApp, Inc. (NASDAQ:NTAP) by 24.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,408 shares of the data storage provider’s stock after selling 3,011 shares during the quarter. NetApp makes up approximately 0.7% of Heartland Bank & Trust Co’s holdings, making the stock its 25th biggest position. Heartland Bank & Trust Co’s holdings in NetApp were worth $1,212,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in shares of NetApp by 57.5% in the fourth quarter. First Trust Advisors LP now owns 5,643,780 shares of the data storage provider’s stock worth $497,556,000 after purchasing an additional 2,059,574 shares during the last quarter. Acadian Asset Management LLC increased its stake in NetApp by 17.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock worth $359,517,000 after acquiring an additional 416,233 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of NetApp by 3.5% during the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after acquiring an additional 82,378 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of NetApp by 254.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,304,512 shares of the data storage provider’s stock valued at $241,905,000 after acquiring an additional 1,654,942 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of NetApp by 26.5% during the 1st quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock valued at $225,532,000 after acquiring an additional 450,263 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Stock Up 1.9 %

NASDAQ:NTAP opened at $123.51 on Tuesday. The company has a market cap of $25.42 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 4.61 and a beta of 1.23. NetApp, Inc. has a twelve month low of $70.82 and a twelve month high of $135.01. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The stock has a fifty day simple moving average of $123.08 and a 200-day simple moving average of $117.58.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. Analysts anticipate that NetApp, Inc. will post 5.71 EPS for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.68%. NetApp’s dividend payout ratio (DPR) is currently 44.83%.

Analysts Set New Price Targets

NTAP has been the topic of several research reports. Susquehanna restated a “positive” rating and issued a $155.00 price target on shares of NetApp in a research report on Monday, August 26th. UBS Group boosted their target price on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Bank of America increased their price target on shares of NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. TD Cowen boosted their price objective on NetApp from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Finally, Wells Fargo & Company raised their price objective on NetApp from $120.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, NetApp presently has an average rating of “Hold” and an average price target of $129.06.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 452 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $133.07, for a total value of $60,147.64. Following the completion of the sale, the executive vice president now directly owns 11,886 shares in the company, valued at approximately $1,581,670.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 452 shares of NetApp stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $133.07, for a total transaction of $60,147.64. Following the transaction, the executive vice president now directly owns 11,886 shares in the company, valued at $1,581,670.02. The disclosure for this sale can be found here. Insiders have sold 10,637 shares of company stock worth $1,376,474 in the last ninety days. 0.37% of the stock is owned by company insiders.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.